Pub. 61 2020-2021 Issue 4

19 SUMMER 2021 Endorsed Partner Focus: Sentry Insurance, Eric Stiles Auto Dealers and Commercial Auto Insurance I n 1987, when Eric Stiles started with a Business Administration and Economics degree, he envisioned a career as a stockbroker. But by December, after the Black Monday crash of Oct. 19, 1987 (when the Dow fell 22.6%), his vision was less than realistic after roughly 10,000 stockbrokers lost their jobs. He decided to take an interim job in the insurance industry until he found a “real” job back in the finance industry. That temporary job soon turned into a well- rounded and fulfilling career, and he never looked back. He has worked in many different positions in the insurance industry, including underwriting, marketing and sales training management. As an account executive for Sentry Insurance, he handles high-profile relationships with industry-specific trade associations and manufacturers directly related to metalworking, plastics, printing, hard goods wholesaling, and food processing businesses. Additional markets include various dealerships for automobiles, motorcycles, agricultural equipment, and industrial equipment. Eric often engages with larger business groups to ensure the Sentry Insurance standards of product reliability and service exceed the expectations of its corporate partners. Thirty years of industry experience specific to commercial insurance has helped him set a high standard of personal achievement within the critical business markets he serves. TADA recently discussed Eric’s thoughts about the industry and what our TADA members could be doing to increase success within their dealerships. What would be the one thing you would encourage all dealers to do? The main factor affecting auto dealers from a commercial insurance standpoint is the exposure faced from normal operations associated with the cars and trucks they sell. As a result, the most significant financial component of the cost of an auto dealer’s commercial insurance package is the rising cost of auto accidents.  ENDORSED PARTNER FOCUS — CONTINUED ON PAGE 20